Santander Cuts Interest Rates On Fixed Rate Mortgages

Santander has cut the interest rates on its fixed rate mortgages by up to 0.4%, enhancing its market leading offering for those looking for long term fixed rate mortgages.

Santander lends 1 in 5 mortgages and with this latest rate cut on its 4 year fixed rate products offers the following:

• 4 year fixed rate mortgage at 4.49% for up to 70% LTV with a £995 fee. This is available to remortgage (free legals and free valuation) and homebuyer (free valuation and £250 cashback on completion) customers
• 4 year fixed rate mortgage at 4.99% for up to 75% LTV (homebuyer) with no fee
• 4 year fixed rate mortgage at 5.29% for up to 75% LTV (remortgage) with no fee

The rate on the Santander 2 year tracker mortgage has also been reduced and now stands at 4.74% for up to 85% LTV with a reduced fee of £495.

Phil Cliff, Mortgage Director for Santandar said “Our latest rate reductions mean borrowers can take advantage of even more competitive 4-year fixes, ideal for those looking for the peace of mind provided by a longer term fix.

Those borrowers wanting the flexibility of a tracker rate and with a smaller deposit, such as first time buyers, can take advantage of the newly reduced fee available on our 2-year tracker.”

In the UK, Santander operates two retail businesses – Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester.